Which of the following is considered an operating activity on the statement of cash flows prepared using the direct method?
A) dividends paid to stockholders
B) sale of merchandise inventory for cash
C) payment to purchase equipment
D) the receipt of cash from sale of equipment
B) sale of merchandise inventory for cash
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Which of the following departments typically approves purchase requisitions?
A. Raw materials stores. B. Cost accounting. C. IT. D. Inventory management.
On January 1, 2015, Moose Co purchased for $360,000 a patent that had been granted two years earlier. On January 1, 2017, legal costs of $64,000 were incurred in a successful defense of the patent. Assuming the maximum period allowable is used for patent amortization, what is Moose's patent amortization expense for 2017?
A) $18,000 B) $20,000 C) $21,555 D) $24,000
A conflict of interest occurs when:
a. an employer knows of an employee's interest in a business deal or negotiation. b. an employee has an economic or personal interest in a transaction that adversely affects the company. c. employees offer, give, receive or solicit anything of value in order to influence an official act. d. employees demand payments from vendors for deciding in the vendors' favor.
The transition from the preapproach to the approach is sometimes blocked by sales call reluctance
Indicate whether the statement is true or false